Curaleaf Stock Buyback | NZ Passes Medical Cannabis Bill | Farm Bill Updates

Cannabis Stocks

Curaleaf Holdings Initiates $50M Stock Buyback Today

Grizzle // 12.10.18

Curaleaf Holdings (OTCMKTS: CURLF) (CSE: CURA) announced a one day $50M stock buyback to be initiated today, Dec. 12, 2018. The buyback will only reduce the company’s share dilution by about 2%, however the maneuver is contrary to what many cannabis firms are currently doing.

Poseidon Asset Management Quietly Raising $75M for Venture Focused Fund

Business Insider // 12.10.18

Morgan Paxhia, a managing partner of Poseidon Asset Management, announced the marijuana-focused firm is raising $75M for its venture-focused Fund II. The fund raised $15M in its first close. Poseidon will focus its investments on industrial hemp, branding and retail, cultivation and processing logistics, and ancillary software and data startups.

Vivien Azer Endorses Altria’s Investment in Cronos

Grizzle // 12.10.18

Cannabis analyst Vivien Azer believes that Altria’s (NYSE: MO) $1.8M investment in Cronos Group (NASDAQ: CRON) will be valuable to both companies. Cronos has placed an emphasis on isolating rare cannabinoids, a potential asset for Altria as the company looks to diversify away from tobacco.

Aphria & Cronos Soar While Canopy Growth & Tilray Slip

Proactive Investors // 12.10.18

Monday began with a rough start for cannabis companies, but by the afternoon Aphria Inc. (TSX: APHA) (NYSE: APHA) was trading up 5%, Cronos Group Inc (NASDAQ: CRON) was up nearly 1%, MPX Bioceutical Corp. (CSE: MPX) (OTCQB: MPXEF) gained 4%, and Innovative Industrial Properties Inc (NYSE: IIPR) climbed 0.7%. CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) fell nearly 5%, The Supreme Cannabis Company (TSXV: FIRE) (OTCQX: SPRWF) was down 4.5%, Tilray (NASDAQ: TLRY) slipped 3%, Aurora Cannabis (NYSE: ACB) fell 0.8%, and Canopy Growth Corp. (TSE: WEED) (NYSE: CGC) dipped. 0.7%

Barclays Buying More Weed Stocks

Barron’s // 12.10.18

According to a filing with the Securities and Exchange Commission, Barclays (NYSE: BCS) (OTCMKTS: BCLYF) disclosed last month that it initiated a position in Tilray (NASDAQ: TLRY). Barclays also increased its investment in Cronos Group (NASDAQ: CRON), buying up 100K additional shares in the company.

Aurora Cannabis’ Recent Fundamentals

Nyse Nasdaq News // 12.10.18

Friday, Aurora Cannabis Inc. (NYSE: ACB) closed the latest trading session at $5.75, with an 8.9% gain from the day prior. Aurora’s relative trading volume is 1.52, with a price target at $0 and a beta factor of 0. The company’s runs an ROE of roughly 0% and their 14-day RSI was settled at 40.14.

Cresco Labs Reports 335% Year-Over-Year Revenue Growth

New Cannabis Ventures // 12.10.18

One of the largest, vertically integrated cannabis operators in the US, Cresco Labs Inc. (CSE: CL) released its Q3 financial results that ended on Sept. 30, 2018. The company’s third quarter revenue was $12.2M, up 335% from Q3 2017 and up 51% Q2 2018.

Dixie Brands Reports $2.4M Loss in Q3

Marijuana Business Daily // 12.10.18

Despite doubling its revenue, Denver-based Dixie Brands (CSE: DIX.U) reported a net loss of $2.4M in its third quarter financial report. The cannabis-infused beverage company posted a quarterly revenue of $2.43M, up nearly 110% from Q3 2017.

Origin House Agrees to Sell 51% of its Equity Interest in Bohdi Research

Growth Op // 12.10.18

Cannabis Royalties and Holding Corp, a wholly-owned subsidiary of Origin House (NASDAQOTH: ORHOF) (OTCMKTS: ORHOF), will divest 51% of its equity stake in Bohdi Research and Development Inc. to Green Relief Inc. for the proceeds of $1.74M. The agreement represents a 700% ROI for CannaRoyalty.

Canopy Growth Has Fallen 50% Since Legalization

Daily Hive // 12.10.18

By market cap, Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) is the largest cannabis company in Canada, but since legalization, the company has been on a steady decline. In the days before legalization, Canopy was trading at $56.89. However that number has plunged nearly 50% to $31.02. Analysts argue that this decline is due to over valuation.

Dividend Paying Cannabis Stocks?

Zack’s  // 12.6.18

In a recent Zack’s statement, Terry Ruffolo and Ryan McQueeney discussed the potential of Innovative Properties Inc (NYSE: IIPR). McQueeney suggests that with $3.9M in revenue up 50% year-over-year, the dividend paying REIT could be a growth play in the cannabis sector.

Penny Stocks National Access Clinic Corp & 48North Cannabis Corp. on the Rise

Pot Stock News // 12.10.18

Both National Access Clinic Corp. (TSXV: META) and 48North Cannabis Corp. (TSXV: NRTH) are the top cannabis penny stock movers for the first 10 days of December. National Access announced last week that it had banked $3.95M in sales in the first 50 days of operation. On December 3, 48North announced it acquired Good & Green, and fulfilled its $10M private placement with Canopy Growth Corp. (NSYE: CGC).

Emblem Launches Line of Cannabis Oil Capsules

New Cannabis Ventures // 12.10.18

Monday, Emblem Corp. (TSXV: EMC) (OTCQX: EMMBF) announced through its wholly-owned subsidiary Emblem Cannabis Corporation, the launch of its new line of 10mg Emblem Oil Capsules. The capsule formulation helps Emblem’s 6,000+ patients manage their treatment through precise dosing.

Trulieve Cannabis Taking Florida by Storm

WPTV  // 12.10.18

With 22 dispensaries across Florida, and a 23rd opening this week, Trulieve Cannabis (OTCMKTS: TCNNF) has executed an aggressive expansion campaign. Trulieve has captured as much as 70% of the medical marijuana market in Florida, where the average patient is 50 years-old.


Global

Aurora Cannabis Gains Foothold in Mexico with Back to Back Deals

Investor’s Business Daily // 12.10.18

Monday, Canadian cannabis producer Aurora Cannabis (NYSE: ACB) announced it will acquire Mexico’s Farmacias Magistrales. Farmacias is Mexico’s first and only company to receive rights to import cannabis and distribute medical cannabis products. This acquisition will give Aurora sole rights to the import license as well as access to Farmacias’ distribution network.


NanoSphere Forms Strategic Partnership to Launch Evolve Products in Mexico

Business Wire // 12.10.18

In a press release, Canadian company NanoSphere Health Sciences Inc. (CSE:NSHS) (OTC:NSHSF) has announced their intended partnership with Abba Import Export S.A. de C.V, to launch their product line, Evolve, in Mexico. Mexico announced in early November that they would be the third country to legalize both medical and recreational marijuana, following Canada and Uruguay. NanoSphere is a new company, specializing in advanced neopartical cannabis delivery technology. The Evolve line of products includes one THC dominant transdermal serum, a CBD dominant transdermal serum and a hemp derived CBD serum. Abba plans to bring these topical products in addition to dried cannabis and extracts to the Mexican market.

Politicians Back Private Pot Shops in London

The London Free Press // 12.10.18

Community members and protective services in London unanimously voted to recommend city council “opt in”, allowing cannabis private pot retailers to remain in business. Pro legislators see the opt in as necessary to keep a positive financial status and the city from wasting further police resources. Pot retailers can legally open shop in April of 2019.

Italian who Cheated Kenyans goes to Zimbabwe

Business Daily // 12.10.18

Italian investor, Carl James Espry who disappeared with more than 450 Million Somalian Shekels (SH) of investment money has teamed up with the son of a former UN secretary-general to launch African Cannabis. African Cannabis is following in line with Espry’s first venture, Atlas African Industries, which left thousands of investors at a loss when he ran off with the money. In 2014, Atlas raised its investments in the Nairobi Securities Exchange where it reached a market capitalism of SH4.9 Billion. The company attempted to venture to Ethiopia and Nigeria before basing their company, African Cannabis in Toronto. The Company founded in 2018 deals with the cultivation, production, extraction and export of medical cannabis in select African countries, namely Zimbabwe and Lesotho.

New Zealand Passes Medical Marijuana Bill

The Guardian // 12.11.18

New Zealand has passed a medical marijuana bill that will make cannabis widely available to thousands of patients. Patients will have to wait a year for regulations, quality standards, and licensing rules to be implemented before lighting up. The legislation will allow terminally ill patients to begin consuming cannabis immediately without facing prosecution.


US News

2018 Farm Bill Updates

Ag Web // 12.10.18

Monday evening House and Senate negotiators released the text of the 2018 Farm Bill. The bill was initially stalled by disagreements over work requirements for food stamp recipients, however the House is expected to Vote on the conference bill Wednesday, with the Senate slated to review the final bill Thursday. If the Farm Bill is approved by congress, it will then hit President Trump’s desk for signing. The 807 page bill includes provisions drafted by Senate Majority Leader Mitch McConnell to legalize hemp production.  

Mitch McConnell Signs Farm Bill with Hemp Pen

Marijuana Moment // 12.10.18

Monday Senate Majority Leader Mitch McConnell (R-KY) signed the final version of the Farm Bill 2018 — using a pen made from hemp. The 2018 Farm Bill will be voted on by the House and Senate later this week.

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An Insider’s Guide to Banking with Cannabis Businesses

Cannabis Business Executive // 12.10.18

While not all financial institutions are willing to work with the cannabis industry, there are a number of openly successful firms offering the market banking solutions. Institutions must comply to strict BSA and FinCEN guidelines in order to serve the cannabis industry. Alan Hanson, a general counsel and compliance officer for an Oregon credit union, discusses how banks can legally offer services to the cannabis industry.

NJ Businesses Have Dim Outlook On Adult-Use Legalization

NJ Cannabis Media // 12.10.18

According to the New Jersey Business & Industry Association’s 60th Annual Business Outlook Survey, only a third of businesses felt recreational cannabis legalization would be good for New Jersey’s economy. 77% of respondents has business related concerns regarding safety, productivity, absenteeism, and proximity to dispensaries.  

Surgeon General Advocates for Rescheduling Cannabis

Ganjapreneur // 12.10.18

US Surgeon General Jerome Adams is suggesting a reconsideration of the Schedule 1 classification of marijuana, stating that the current scheduling makes it hard for scientists to research the benefits of medical marijuana within the law.

Pennsylvania Establishes Process for Approving Cannabis Qualifying Conditions

Ganjapreneur // 12.10.18

In Pennsylvania, The Medical Marijuana Advisory Board has approved a new system for adding conditions to the state Medical Marijuana Act. A patient, doctor or advocate can submit an application containing references to support their claim, documentation of effectiveness and further record that the potential medical benefits outweigh the risks of marijuana consumption.

Significant Challenges Await Iowa’s New Medical Cannabis Program

Marijuana Business Daily // 12.10.18

In Iowa, the states new medical marijuana program might be in trouble due to the high licensing fees, a short list of qualifying conditions, limited buy in and widespread confusion. The new law, the “Medical Cannabidiol Act”, limits products sold in dispensaries to containing 3% (of the total weight) of THC or less. Only five dispensaries are open in the state, and they are prohibited from selling flower, or any other vaporizable products. Their shelves are full of edible, topical and suppository products and things that can be nebulized. The combination of limited eligibility, controlled supply and consumer confusion is worrying investors the slow start in the industry will ruin their projections for long term viability.

Should Oncologists Recommend Marijuana?

ASCO Post // 12.10.18

In a study with 400 Oncologists, 50% reported that they recommend marijuana to their patients. Cancer doctors nationwide are struggling with the lack of research supporting the direct benefits of cannabis actually ‘curing cancer’. Most oncologists are recommending patients use medical marijuana to combat the side effects of chemotherapy and other cancer treatments. There is minimal, but supported evidence that marijuana use will reduce nausea, alleviate headaches and aid sleep. With the widespread popularity, notoriety and increasing number of states supporting medical marijuana, doctors are hopeful that the eventual reclassification of the drug will lead to improved research on the benefits of marijuana with cancer patients.

Council Expected to Prohibit Recreational Marijuana Business

The Oakland Press // 12.10.18

Despite the statewide legalization of recreational marijuana last week in Michigan, some residents of Oakland County are taking a stand against any cannabis companies setting up shop in their city. The small town if Milford Village is an example of a community taking action to change legislation to prohibit recreational dispensaries from opening within city limits. In the county, only four communities are allowing recreational shops to open, the opposers stating that an increase in driving accidents among the main reasons for keeping recreational marijuana out of their city.

Pot May Be Next for Tobacco Farmers Already Turning to Hemp

Bloomberg // 12.10.18

US tobacco suppliers might move to the cannabis industry if it is legalized nationwide. Some farmers in the rural parts of the country, like Kentucky, are starting to make the shift into hemp farming. In addition to tobacco, soybean farmers, who can’t compete with the Chinese soybean market, are becoming increasingly interested in growing hemp following the decision of the Farm Bill this week.


Cannabis Legalization in Michigan and New Jersey Should Provide CRE Investors with New Opportunities

National Real Estate Investor // 12.10.18

Legalization of cannabis in Michigan and New Jersey will provide Commercial Real Estate (CRE) investors with many new opportunities in 2019. With a severe shortage of testing facilities, many CRE investors are seeing this as a time to invest in laboratories, in addition to other industrial properties. Recreational cannabis will have many testing requirements and there will be surge of demand for testing facilities. Investors are facing a major problem with a lack of financial support from banks that are federally insured. Any bank with federal insurance cannot lend money to any cannabis business or give them access to credit or debit card transactions. Blockchain technology and cryptocurrency has been discussed as a possible solution to this problem. New jersey doubled its number of medical marijuana licenses from 6 to 12. The state is anticipating this will generate more tax revenue in the upcoming year.

State Cannabis Sellers Want the Legislature to Allow Broader CBD Sales and Make Other Reforms

The News Tribune // 12.10.18

Washington state legislatures are seeking compliance from the state Liquor and Cannabis board to issue written warnings before enforcement action, allow for out of state investment and align cannabis sale penalties with the alcohol industry standard. The letter of intent also asks to allow limited merchandising of the sale of certain non-THC products in licensed stores. The legislative agenda is written by the executive director and lobbyist for the Washington CannaBuisness Association.

Cannabis of the Rich and Famous

Forbes // 12.10.18

Increased endorsement of medical and recreational marijuana by celebrities is contributing to the widespread acceptance of cannabis culture in America. Willie Nelson, Whoopi Goldberg, Snoop Dogg, Jimmy Buffet, and Mike Tyson are among some of the celebrities to endorse and invest in the cannabis industry.

California News

BCC Releases Proposed Cannabis Regulations

Cannabis Business Times // 12.10.18

The Bureau of Cannabis Control announced the release of the proposed cannabis regulations currently under review by the California Office of Administrative Law. The Bureau has posted the proposed regulations to its website in strikethrough and underline to reflect the differences between the regulations under review.

Phase 3 Testing Reminder

California Cannabis Portal // 12.10.18

The Bureau of Cannabis Control announced that all cannabis harvested on or after December 31, 2018, and all cannabis products manufactured on or after December 31, 2018 are subject to phase 3 testing.

Wildflower Begins On-Demand Delivery Service in Los Angeles

Nasdaq // 12.10.18

Successful Canadian company, Wildflower Brands Inc. (CSE:SUN, OTC:WLDFF), is launching its on-demand delivery service in Los Angeles. To comply with California law, Wildflower will partner with eaze.com to efficiently route deliveries, manage inventory and comply with California state law.

Oregon Marijuana Company Buys Facility in Eureka California

Lost Coast Outpost // 12.10.18

Oregon based cannabis company, Grown Rogue International Inc. has bought a 16,000 square foot property in Eureka, California. The company plans to enter the California market hard, loud and fast following their permitting approval at the end of the month.

Cannabis Industry and Unions Squabble in California

Inside Sources // 12.10.18

California labor laws require businesses with more than 20 employees to have a union representative speak to employees about forming a union. The United Food & Commercial Workers International Union (UFCW) has reached out to include cannabis workers in their demographic. The National Labor Relations Board (NLRB) has been issuing fines to companies that fire employees for unionizing. There is little to no oversight from the state or the country regarding cannabis workers unionizing and where they fall under labor laws federally.

Small California City Looks to Marijuana to Save its Floundering Economy

Civilized // 12.10.18

Jeff Williams, the mayor of Needles California, is looking to marijuana to boost its floundering economy. A new cannabis growing facility is expected to create 2,100 new jobs, more than the total amount of jobs in the city. So far, cannabis has generated 350 jobs in Needles. The city has also noticed property prices have also begun the rise.

600 Plants & 282lbs of Processed Cannabis Product Destroyed in Pot Bust

KRCTV // 12.10.18

Thursday deputies with the Humboldt County Sheriff’s Office Drug Enforcement Unit eradicated over 600 marijuana plants and destroyed hundreds of pounds of processed pot products.

Canadian News

Canadian Cannabis Legalization: Considerations at the Border

BIPC // 12.10.18

With nationwide recreational legalization in Canada and 10 US states, many are under the misconception that it is okay to travel across the border with marijuana. Marijuana is still a schedule 1 drug in the US and Canadian Nationals are unable to bring cannabis into the US. Questions such as ‘have you ever smoked pot’ are being asked at the border and used as evidence that the individual who answered ‘yes’ will engage in illegal activity once inside the US, and therefore barred entry.

Regulation Across the Nation

Valens // Extracted Podcast // 12.10.18

Deepak Anand, Vice President of Business Development & Government Relations at Cannabis Compliance Inc (CCI), meets with Extracted podcastors to discuss nationwide regulation. Anand has seen the industry grow at a rapid rate worldwide, and the influence that Canada has had on the global market. In Canada, the switch from medical to recreational is leaving a pot of patients behind with the rush to join the recreational market, despite the long line for licensing. Anand anticipates a ‘California-type model’ to go into place this upcoming year with Health Canada allowing a conservative selection of edibles to be sold online.
P

New Federal Regulatory Rules Around Cannabis

News Source // Date

Health Canada recently released their new regulatory plan to impose pesticide testing on all licensed producers (LP) of cannabis. Starting after the 1st of the year, samples from LPs will be screened for just under 100 pesticides and pesticide ingredients before the product reaches market. Large LPs such as Aurora Cannabis, with product purchased from OrganiGram, tested positive for two prohibited chemicals and lead to the recall of 81 lots of product in 2016. Under the Pest Management Regulatory Agency, 23 “pest control products” have been cleared for use in cannabis cultivation. Such regulation in this industry has not existed before this point and Health Canada has companies’ full cooperation in a smooth transition into these regulation changes.

Science

Some Canadian Cannabis Vendors Are Selling Placebo Weed Oils, Researchers Say

Vice News // 12.10.18

Ontario based Scientus Pharma, a pharmaceutical company, is claiming that some Canadian Licensed Producers (LP) are selling placebo products. Scientus recently patented their decarboxylation method, stating it will be a game changer when it comes to standardizing the potency of weed oils. The company’s claim is that  the industry standard of C02 extraction to create a concentrate has too many variables which results in improper potency results. Scientus hopes to set an industry standard with their technology and improve transparency to consumers.

Cannabinoid Research Funding Opportunities from NCCIH

National Center for Complementary and Integrative Health // 12.08.18

The National Center for Complementary and Integrative Health (NCCIH) announced December 8, 2018 that the organization is providing funding opportunities that could be used for meritorious cannabinoid-related research. Funded projects must follow federal cannabis laws.